Rajan Signals Focus On Broader Economy: Abheek Barua

Sep 05 2013

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September 5: In his first few comments, RBI Governor Raghuram Rajan set about freeing up bank branches, deciding a timeline for bank licenses and promising stringent action on defaulters. HDFC Bank Chief Economist Abheek Barua calls Rajan’s actions commendable. “Global investors are as worried about an implosion in the banking system as they are about the direction of rates,” he says, adding that Rajan is making it clear that the RBI is concerned about state of the economy.